Construction Starts Rise 16% in May
June 12, 2009 - Jim Haughey
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Reed Construction Data (RCD) announced today that the year-to-date value of construction starts through May 2009, excluding residential contracts, totaled $97.3 billion, 6.2% less than in the same period in 2008. Individual-month-of-May starts increased 16% from April, significantly more than the usual seasonal increase. However, May starts were 20% below last December, says Reed Construction Data chief economist Jim Haughey.